Vestigo Ventures, a Cambridge-based FinTech investment firm, has reportedly secured $83.5mn.
This will go toward the business’ second fund which it aims to be worth $100mn.
Up to now the firm has focused on FinTech and financial services businesses.
Vestigo launched in 2016 and its first fund was worth $58.9mn.
What does this mean?
The fund has attracted 66 different investors so far and is well on its way to reaching the $100mn target. So far, it’s invested in 20 firms, many of which were startups and early-stage FinTechs. The team have reportedly expressed an interest in the potential of Distributed Ledger Technology for more significant investment over the coming years.